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LBA

Letko, Brosseau & Associates Portfolio holdings

AUM $6.2B
1-Year Est. Return 38.92%
This Fund
S&P 500
This Quarter Est. Return
+7.58%
1 Year Est. Return
+38.92%
3 Year Est. Return
+73.78%
5 Year Est. Return
+108.79%
10 Year Est. Return
+305.85%
AUM
$10.9B
AUM Growth
+$211M
Cap. Flow
-$449M
Cap. Flow %
-4.12%
Top 10 Hldgs %
34.9%
Holding
103
New
4
Increased
20
Reduced
59
Closed
6

Top Buys

Rank Stock Value
1
PAY
Verifone Systems Inc
PAY
+$47.9M
2
EMN icon
Eastman Chemical
EMN
+$40.9M
3
LPNT
LifePoint Health, Inc.
LPNT
+$22.1M
4
MRK icon
Merck
MRK
+$9.28M
5
TU icon
Telus
TU
+$7.84M

Top Sells

Rank Stock Value
1
TECK icon
Teck Resources
TECK
+$100M
2
DKS icon
Dick's Sporting Goods
DKS
+$53.9M
3
ERIC icon
Ericsson
ERIC
+$34.9M
4
CNQ icon
Canadian Natural Resources
CNQ
+$22.1M
5
BAC icon
Bank of America
BAC
+$19.5M

Sector Composition

Rank Sector Weight
1 Financials 27.34%
2 Energy 18.65%
3 Communication Services 14.42%
4 Technology 9.26%
5 Materials 7.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNQ icon
1
Canadian Natural Resources
CNQ
$96.9B
$461M 4.23%
29,524,539
-1,393,900
-5% -$22.1M
SU icon
2
Suncor Energy
SU
$77.7B
$456M 4.18%
13,932,405
-363,344
-3% -$11.1M
BMO icon
3
Bank of Montreal
BMO
$123B
$405M 3.71%
5,626,727
-106,699
-2% -$7.12M
BNS icon
4
Scotiabank
BNS
$105B
$400M 3.67%
7,188,335
-234,466
-3% -$12.8M
RY icon
5
Royal Bank of Canada
RY
$287B
$368M 3.37%
5,432,088
-26,027
-0.5% -$1.69M
SLF icon
6
Sun Life Financial
SLF
$45.6B
$362M 3.32%
9,435,529
+71,176
+0.8% +$2.58M
MFC icon
7
Manulife Financial
MFC
$73B
$353M 3.24%
19,807,762
+58,335
+0.3% +$950K
TD icon
8
Toronto Dominion Bank
TD
$193B
$340M 3.12%
6,886,729
-2,887
-0% -$135K
TU icon
9
Telus
TU
$17.4B
$333M 3.05%
20,920,564
+491,600
+2% +$7.84M
TECK icon
10
Teck Resources
TECK
$28.2B
$329M 3.02%
16,441,388
-4,628,626
-22% -$100M
TRI icon
11
Thomson Reuters
TRI
$46.4B
$282M 2.59%
5,556,347
-211,949
-4% -$10.3M
BAC icon
12
Bank of America
BAC
$429B
$280M 2.56%
12,652,160
-1,014,167
-7% -$19.5M
BCE icon
13
BCE
BCE
$20.8B
$272M 2.5%
6,300,898
+121,915
+2% +$5.38M
RCI icon
14
Rogers Communications
RCI
$18.8B
$257M 2.36%
6,661,047
-5,225
-0.1% -$206K
T icon
15
AT&T
T
$164B
$250M 2.3%
7,793,713
-451,484
-5% -$13.3M
MGA icon
16
Magna International
MGA
$18.8B
$250M 2.29%
5,752,161
+133,635
+2% +$5.62M
CLS icon
17
Celestica
CLS
$37.8B
$248M 2.27%
20,910,848
+6,212
+0% +$72.8K
C icon
18
Citigroup
C
$213B
$245M 2.25%
4,128,031
-252,777
-6% -$13.6M
VZ icon
19
Verizon
VZ
$197B
$241M 2.21%
4,521,044
-249,325
-5% -$12.5M
CVE icon
20
Cenovus Energy
CVE
$54.2B
$209M 1.92%
13,821,342
+300,625
+2% +$4.53M
OVV icon
21
Ovintiv
OVV
$17B
$200M 1.84%
3,411,193
-98,457
-3% -$5.61M
AGU
22
DELISTED
Agrium
AGU
$183M 1.68%
1,824,138
-72,110
-4% -$6.95M
GE icon
23
GE Aerospace
GE
$364B
$181M 1.66%
1,194,987
-102,475
-8% -$14.9M
CSCO icon
24
Cisco
CSCO
$443B
$178M 1.63%
5,888,687
-525,035
-8% -$16M
RDS.A
25
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$177M 1.62%
3,248,701
-169,230
-5% -$8.72M
1
2 3 4 5

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Letko, Brosseau & Associates's Q4 2016 Portfolio in Review

As of Q4 2016, Letko, Brosseau & Associates held 103 positions worth $10.9B, up 2% from $10.7B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Letko, Brosseau & Associates withdrew a net $449M in Q4 2016, closing 6 positions and reducing 59 holdings. Its most notable exit was Ericsson, an estimated $34.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 25% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Letko, Brosseau & Associates opened a new position in Verifone Systems Inc worth $51.2M.

  • Letko, Brosseau & Associates's largest Q4 2016 buy was Verifone Systems Inc: 2,886,000 shares worth $51.2M.
  • Letko, Brosseau & Associates added most to LifePoint Health, Inc. in Q4 2016, an estimated $22.1M increase.
  • Letko, Brosseau & Associates's biggest Q4 2016 reduction was Teck Resources, cutting an estimated $100M.
  • Letko, Brosseau & Associates fully exited Ericsson in Q4 2016, selling an estimated $34.9M.
  • Letko, Brosseau & Associates's ten largest holdings make up 35% of its $10.9B portfolio in Q4 2016.
  • Letko, Brosseau & Associates opened 4 new positions and closed 6 in Q4 2016.
  • Letko, Brosseau & Associates's portfolio value rose 2% quarter-over-quarter to $10.9B.

Based on Letko, Brosseau & Associates's 13F filing for Q4 2016, filed 13 Feb 2017.